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Micro Focus notes syndication of new $5.5bn facilities

31 March 2017 07:22

Micro Focus International noted the launch of the syndication process for a proposed new credit facility of $5.5bn in relation to the proposed merger with the Software Business Segment of Hewlett Packard Enterprise.

The new facilities comprised a $500m revolving credit facility placed with a number of financial institutions and $5bn of term loans.

The new facilities would be used to fund the pre-completion cash payment to HPE of $US2.5bn, refinance the existing facilities of Micro Focus of about $1.5bn, fund the RoV to Micro Focus' existing shareholders of $400-$500m, and pay transaction costs.

The balance would be used for general corporate and working capital purposes.

Story provided by StockMarketWire.com

Related Company: MCRO

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